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Kred

January 09, 2012

LogMeIn Acquires Bold Software for $16.5M

LogMeIn, the longtime maker of remote access tools, has acquired Bold Software, a provider of web chat and customer communications software. The company says it will use the technology to offer additional features and capabilities to its customers on LogMeIn Rescue, the company’s support product.

Under the terms of the deal, LogMeIn acquired all the net assets of Bold Software for approximately $16.5 million in cash.

A portion of the cash is contingent on retention-based bonuses and is expected to be paid over time. LogMeIn expects the acquisition to be accretive to its non-GAAP operating results within twelve months and will provide more details regarding the financial terms of the transaction during its fourth quarter 2011 financial results conference call.

The acquisition is a part of a larger strategy to expand LogMeIn’s portfolio of web-based services aimed at customer care organizations, the company says, including call centers, external help desks, and customer service teams.

For those unfamiliar, Bold Software’s “BoldChat” product is a live chat and click-to-call customer service solutions that is used by thousands of retail, financial services, manufacturing, software, and telecommunications organizations. Meanwhile, LogMeIn’s customer care services are used by tens of thousands of helpdesks and call centers, including 50 of the world’s top mobile operators and support organizations like Best Buy’s Geek Squad and OEMs like Sling Media.

Post-acquisition, BoldChat will still be available as a standalone offering, while it will also be integrated into other LogMeIn products, in addition to LogMeIn Rescue.